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Violation Tracker Individual Record

Company: Statoil ASA
Current Parent Company: Equinor
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Penalty: $10,500,000
Year: 2006
Date: October 13, 2006
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Violation Description: Statoil ASA, headquartered in Norway, acknowledged making bribe payments to an Iranian official in order to secure valuable oil and gas rights in Iran in violation of the anti-bribery and accounting provisions of the Foreign Corrupt Practices Act. It agreed to pay a $10.5 million penalty and to enter into a three-year deferred prosecution.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Norway
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: oil and gas
Specific Industry of Current Parent: oil & gas
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.